SUMMER JOB
US weekly jobless claims rise labor market slows
The labor market shows signs of easing as unemployment benefits claims increase. Layoffs rise due to interest rates impacting demand, and challenges in seasonal data adjustments persist. Market anticipates Fed's potential rate cuts. Job cuts decrease in June, but higher than last year. Nonfarm payrolls data may reveal job increase. Job openings ratio remains steady, while Fed deliberates policy changes post-hikes. Continuing claims rise due to policy effects.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Domestic markets showed gains driven by positive sentiment on expectations of a discretionary spending rebound. Investors focus on upcoming US job data and Fed Chair's speech for interest rate insights. Nifty futures trade higher with a positive trend intact. Oil prices remain steady near highs, supported by rising fuel demand outlook. FII and DII actions impact rupee's performance.
Gold ekes out gains as investors await US jobs data
Gold prices edged higher on Monday as a lower dollar prompted some short covering from investors with focus turning to U.S. jobs data due later this week that could offer more cues around interest rate cuts by the Federal Reserve.
India's ragpickers: A miserable and dangerous job made worse by extreme heat
India generates at least 62 million tons of waste annually, according to central government records, and some of its landfills are literal mountains of garbage, like the Ghaziabad landfill outside New Delhi. And while a 2016 law made it mandatory to segregate waste so that hazardous material doesn't make its way to landfills, the law has been poorly enforced, adding to the risk of waste pickers.
Strawberry Full Moon 2024: Best viewing time to witness the celestial event in US
Strawberry Full Moon 2024: Space enthusiasts are in for a treat as one of the most celebrated celestial events, the Strawberry Moon, illuminates the night sky on Friday, June 21, 2024.
Brent rises toward $86 as cooling US jobs market buoys rate cut hopes
Oil futures hit a seven-week high on Thursday as fresh data on a cooling U.S. jobs market added to hopes that the Federal Reserve could still cut interest rates this year.
Oil rises on hopes of summer fuel demand
Goldman Sachs analysts expect Brent to rise to $86 a barrel in third quarter, saying in a report that solid summer transport demand will push the oil market into a third-quarter deficit of 1.3 million barrels per day (bpd).
Japan's Nikkei edges up as financials, export shares rise
Japan's Nikkei share average edged up on Monday as export-related stocks rose on a weaker yen following stronger-than-expected U.S. jobs data and a rise in domestic yields boosted financial stocks.
Oil slips on dollar's strength from US jobs data
Oil prices slipped on Monday due to a stronger dollar and delayed interest rate cuts following strong U.S. jobs data. Developments in Iraq, including progress in oil export talks with the Kurdistan region, impacted market sentiment.
Demand under rural jobs scheme eases again in May
Demand for work under India's rural job guarantee scheme, MGNREGS, dropped for a seventh consecutive month in May, signaling improved economic conditions at the start of the fiscal year. About 37.46 million individuals sought work, down 12.1% from the previous year, with 27.18 million households seeking work, a 14.3% drop. The trend is attributed to better-paying job opportunities and the impact of heat waves across the country, although the data is subject to revision.
Survival at 15,000 feet: A tiny Himalayan village fights for water and jobs
Tucked in the Himalayas at 15,256 feet, Tashigang, home to the world's highest polling station, faces severe challenges due to climate change and limited resources. As Tashigang and neighboring Gete prepare to vote, the demand for jobs and better infrastructure is pressing. Locals like Kalzang Dolma struggle with declining agriculture and job losses. Water scarcity and inadequate roads further exacerbate their difficulties.
Third Eye: Kerala leaders' pain in Delhi, Badruddin Ajmal in sweet mood, and Sanjay Raut's theory
Kerala functionaries wilted in Delhi's summer heat but found relief in Kerala's rain, AIUDF chief Badruddin Ajmal believes in early celebrations, and Shiv Sena (UBT) Rajya Sabha MP Sanjay Raut's weird claim.
Most Indian cities reeling from labour crisis in election season
The second-longest Lok Sabha elections in the history of the nation spanning 44 days have thrown up a slew of handsome and instant earning opportunities for migrant workers back home, from attending election rallies and door-to-door pamphlet distribution to tenting, vehicle business, catering and food supply.
As summer turns extreme, manufacturing firms go the extra mile to keep workers cool
As extreme summer heat leads to increased absenteeism and reduced productivity, manufacturing and engineering firms like Tata Steel, Larsen & Toubro, Nayara Energy, Thermax, and Maruti Suzuki are implementing measures to protect their employees. Initiatives include providing desert coolers, air-conditioned rest areas, and AC transportation, distributing rehydration salts, conducting medical check-ups, and offering doctor consultations. Tata Steel adjusts job schedules to minimize direct sunlight exposure, while L&T extends lunch breaks for outdoor workers.
Sweltering heat pushes up demand for temporary workers in rural markets
There is a 20% year-on-year increase in rural job vacancies, according to executives at recruitment services and consumer companies. They estimate 20,000-50,000 new temporary jobs are being created this year thanks to robust summer season demand in rural and semi-urban areas while companies with a large focus on rural businesses are looking to bolster sales and distribution presence in the hinterlands.
Hiring sees 9% uptick in April 2024, says latest foundit Insights Tracker
The startup ecosystem saw a 37% increase in the number of new companies, leading to a 14% surge in the number of jobs. More than half (53%) of all startup jobs are targeted at freshers. Production and manufacturing sector saw a 31% year-on-year surge in hiring.
Amazon Great Summer Sale 2024: Great deals on Video games, Books and Toys
Don't let the sweltering heat dampen your spirit because Amazon is back with its Great Summer Sale, where you’ll encounter amazing discounts and deals on categories like fashion, appliances, mobiles, home decor, and much more. Amazon is also offering special perks to credit/debit card owners and UPI users, along with easy returns and cash-on-delivery payment options.
Blue Star has a very balanced growth in both B2B and B2C segments; Jan-July overall market growth to be 30-35%: Vir Advani
Blue Star's Vir Advani discusses strong Q4 performance, market growth outlook, revenue milestones, and technological advancements. Anticipates continued demand revival, capacity expansion, and industry growth with a focus on innovation and efficiency improvements.
Seasonal manpower demand soars, 2024 looks set to be a record year for temporary summer jobs
Most in demand are delivery, in-store, on-ground, after-sales service and manufacturing workers for industries producing summer goods with companies struggling to find people to fill roles.
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